MAM
SBI, ICICI Pru and HDFC MFs corner 40 per cent of Amagi’s Rs 805 crore anchor book
Amagi Media Labs has drawn heavyweight backing ahead of its public debut, with India’s top three mutual fund houses, SBI MF, ICICI Prudential MF and HDFC MF, mopping up about 40 per cent of its Rs 805 crore anchor book. The ad-tech firm allotted 22,295,799 equity shares to 42 anchor investors at Rs 361 a share, the top end of the price band, ahead of its Rs 1,789-crore initial public offering that opened on 13 January 2026.
Amagi is a rare case where all three leading consortium fund houses have lined up as anchors. They were joined by a roll-call of domestic and global institutions, including Birla MF, Fidelity, Motilal Oswal MF, HDFC Life Insurance, Tata Mutual Fund, Franklin Templeton MF, 360One, Baroda BNP MF, Amundi, PGIM MF, Bandhan MF, Susquehanna International (SIG), Bharti Axa, Isometry Capital, Societe Generale, Goldman Sachs, Creaegis, Edelweiss Tokio Life, New Vernon Capital and Helios, among others.
The anchor book spans 35 resident and seven non-resident investors, combining domestic and foreign funds with long-only insurance capital. These are names known for their selectivity and patience.
Amagi’s IPO is CY2026’s first deep-tech, SaaS and private-sector listing, landing at a time when global markets remain skittish. Fresh issue proceeds of Rs 816 crore will be channelled into technology and cloud infrastructure, inorganic growth through yet-to-be-identified acquisitions and general corporate purposes.
The issue closes on 16 January, extended to four days owing to local municipal elections in Maharashtra. With blue-chip anchors on board and the price fixed at the ceiling, Amagi has fired the opening shot of the year’s IPO race and it has not missed.
AD Agencies
Prakash Nair reportedly quits Ogilvy after 23 years
One of the agency’s longest-serving leaders has moved on, with his next destination still unknown
MUMBAI: After more than two decades at one address, Prakash Nair has left the building. The president and head of office, north at Ogilvy has moved on from the agency, according to highly placed industry sources. His next move remains unknown. Ogilvy did not respond to requests for comment.
Nair spent over 23 years at the agency, making him one of its longest-serving senior figures. He was elevated to lead the Gurugram office in April 2022, a role that put him at the helm of Ogilvy’s northern operations at a time of considerable churn across the advertising industry.
Before taking charge in the capital, Nair served as associate president at Ogilvy Mumbai, where he worked on some of the agency’s most prized accounts, including Mondelez, Tata Motors, and BP Castrol. Over the years, he built a reputation for driving modern, integrated, and award-winning work, the kind that wins metals at Cannes and keeps clients from straying.
His departure was marked in style. A farewell gathering was held in Delhi, attended by senior figures from across the advertising fraternity, a signal of the regard in which Nair is held in an industry that does not always pause to say goodbye properly.
Where he goes next is the question the industry is now asking. After 23 years at one of the world’s most storied agencies, the answer, when it comes, will be worth watching.
